The current publishing industry makes it very difficult for breakout authors to achieve success. Furthermore, publications are often based off subjective opinions of those in the industry, and potential readers have no input in the matter, despite them being the force that will drive a book's success.
Inkitt takes a different approach to publishing in order to give writers a fairer chance of success. The company allows writers to submit their stories onto the website where readers have free access to read anything posted. Using an algorithm, Inkitt then determines which stories have the most reader engagement, and based on this information, decides which to take to official print and publication.
Several rounds of funding to the sum of more than $100M have allowed Inkitt to invest more in its algorithm and technology and open offices in San Francisco. It's also looking to expand into more mediums such as video content and audiobooks, with a long-term aim of building a media empire akin to Disney. Though there's a long way to go for that lofty aim to come to fruition, Inkitt has already attracted 33M users and published dozens of bestsellers.
Kirsty
Company Specialist at Welcome to the Jungle
